US-EU Trade Talks Critical in Coming Hours, Tánaiste Urges Progress

Tánaiste Simon Harris has said the coming hours will be crucial ahead of Wednesday's deadline for the end of the US 'pause' on higher tariff rates. Mr Harris will spend much of the day engaging with officials and the EU Trade Commissioner as a final push is made to find a way forward between the EU and the US. He will also bring a memo to Cabinet tomorrow setting out the latest trade developments and update ministers on the status of the talks.

Speaking this morning, Mr Harris said: 'The EU team has worked tirelessly and intensively to find a way forward with the US and I thank them for their ongoing work. A mutually beneficial agreement that works for both sides remains the objective for Ireland and the EU. While progress may not be at the stage we would like, at this moment the key priority is that negotiations continue. I understand President Trump will meet with his trade advisers today. Even at this late stage, I would urge the US to constructively respond to an EU that wants to find a landing zone to this trade dispute that makes sense for all. Simon Harris will memo to Cabinet tomorrow setting out the latest trade developments.

'Tariffs are bad for consumers, jobs, economic growth and investment. As I have been saying for some time, the uncertainty is also bad for economic confidence and Irish businesses seeking clarity on the trading environment in which they operate. From day one, we have consistently called for zero-for-zero tariffs in as many areas as possible and I know the EU has advocated this course of action. My priority and that of the Government will remain to protect Irish jobs and Irish economic interests and engaging closely with EU colleagues in the hours ahead.'

European Commissioner Michael McGrath said that the Commission is doing everything possible to secure a good deal for European businesses, consumers and workers. 'The fact that trade is an exclusive competence of the Commission - allowing us to negotiate on behalf of a bloc of 27 member states - puts EU member states in a far better position than having to negotiate individually,' Mr McGrath said. He added: 'I am staying in close contact with Commissioner Šefčovič and his team and I am satisfied that no stone is being unturned to get a deal that works for Ireland and all other member states. The next 48 hours are important, but the work will not likely end there,' Mr McGrath said. Commissioners will receive a briefing on the current position regarding the negotiations at tomorrow's weekly meeting of the College of Commissioners in Strasbourg.

Yesterday, Minister for Enterprise Peter Burke said the 'best case' scenario in the EU-US trade talks is that a political framework can be delivered by tomorrow evening. The minister said that would then create a pathway for further negotiation. 'Obviously, there are number of areas that the EU are looking for, zero for zero carve outs and favoured nation status,' he told RTÉ's The Week In Politics. 'These centre on aviation, life science, semiconductors and spirits. But all those areas are under challenge, aviation is getting a lot of traction as far as I understand, with the US administration,' he said.

US President Donald Trump said the US will impose an additional 10% tariff on any countries aligning themselves with the 'Anti-American policies' of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil yesterday. With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive 'America First' approach of the US president, the BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars. In a joint statement from the opening of the BRICS summit in Rio de Janeiro released yesterday afternoon, the group warned the rise in tariffs threatened global trade, continuing its veiled criticism of Trump's tariff policies. Hours later, Mr Trump warned he would punish countries seeking to join with the grouping.

Meanwhile, US Treasury Secretary Scott Bessent also said yesterday that the US is close to reaching agreements on several trade deals ahead of the Wednesday deadline. Mr Bessent predicted several big announcements in the coming days. He told CNN's 'State of the Union' programme that the Trump administration would also send out letters to 100 smaller countries with whom the US does not have much trade, notifying them that they would face higher tariff rates first set on 2 April and then suspended until 9 July. Those tariffs will kick in on 1 August if trading partners do not strike deals with the US.

US President Donald Trump confirmed on Truth Social he would send the first tariff letters to various countries, days before his deadline for trading partners to reach a deal expires. Mr Trump said that he will send a first batch of up to 15 letters, warning that US levies on imports will snap back to the high levels he set in April if countries fail to make agreements. 'I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th,' Mr Trump said on his Truth Social network.